DGGF invests in sustainable fish production in Ethiopia

News item | 05-10-2018 | 12:06

Africa Sustainable Aquaculture (ASA) is about to use its recently granted loan from the Dutch Good Growth Fund (DGGF) to purchase and assemble ponds and cages for farming tilapia in Ethiopia. ASA is also constructing a hatchery with room to process and clean the fish. Through its investment and exports, ASA will contribute to food security in Ethiopia.

The ASA project is initiating and developing a commercial and sustainable aquaculture sector in cooperation with local entrepreneurs. The focus will lie in the rearing of tilapia for local markets and export to neighbouring countries. The export is expected to begin in mid 2018.

Fish in water

In early May, Koen Hamers and Martijn Braaksma of the Netherlands Enterprise Agency undertook a working visit to Ethiopia. They spoke with Dutch entrepreneurs operating locally about finance possibilities and technical assistance. They also visited various projects financed by DGGF investments to monitor their progress.

“In spite of the challenging conditions faced by ASA, the entrepreneurs feel like fish in water and are brimming with confidence now that they can take the next steps in their project with DGGF funding,” says Martijn Braaksma.

€500,000

On 22 March, ASA shareholders Bart Kraai and Bouwe Hofstee signed a € 500,000 DGGF loan for the expansion of their fish farm.